Specialist Accountants for Pharmacies & Locum Pharmacists
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NHS and private income reconciliation, stock valuation, capital allowances on dispensing robots, and profit extraction for owners.
Self-assessment, IR35 status on agency work, mileage and expense claims, and limited company versus sole trader comparisons.
Management accounts per branch, acquisition and goodwill advice, and funding forecasts for buying a second or third pharmacy.
VAT on zero-rated and standard-rated lines, e-commerce bookkeeping and stock control for distance-selling pharmacies.
We reconcile EPS and NHS schedules against till takings, track stock movements and keep your books ready for review at any point in the year.
Dispensed NHS medicines are zero-rated while over-the-counter sales and services are standard-rated. We get the split right and reclaim what you are due.
Company or sole trader returns prepared with every allowable cost claimed, from GPhC registration and indemnity to training and fixtures.
Payroll for pharmacists, technicians, dispensers and delivery drivers, plus workplace pension auto-enrolment and statutory pay.
Status reviews on agency and locum engagements, expense claims and the most efficient trading structure for your level of income.
Pharmacy accounting comes with a few recurring pressure points that our Pharmacist Accountants in Rathmell see time and again. Most of them come down to juggling multiple income streams while keeping records accurate and tax treatment correct.
Drug tariff, category M, EPS reconciliation and stock valuation — no explaining required.
One qualified point of contact who knows your branch, your numbers and your plans.
Xero, QuickBooks or Sage linked to your bank and till so figures are current, not six months old.
Management accounts showing dispensing margin, retail margin and profit per branch.
One agreed monthly fee with no hourly billing and no unexpected invoices.
We work with pharmacies, GP practices, dentists and clinics, so the sector is all we do.
We begin by getting to know your practice and understanding your unique needs. This step ensures we have a clear picture of your operations and your goals.
Based on our initial discussion, we create a personalised plan designed specifically for you. The aim is to keep everything organised and easy to follow. You can rest assured that your numbers are being handled with expert precision.
From there, we take care of the ongoing work and keep you updated with reports. You’ll always know what’s happening, and we’re always here to answer your questions, ensuring you have a clear picture of your financial health at all times.
Using the latest technology to offer customised financial strategies that help healthcare practices grow and thrive.
A dedicated accountant who understands pharmacy margins, stock and NHS reimbursement.
Our team is here whenever you need guidance. We offer unlimited support to ensure your financial management is always on point.
Our team has over 100 years of combined accountancy experience.
Never Miss any deadline with our automated email reminders.
We’re an ICAEW, ACCA & AAT accredited Firm.
Take a back seat and let our pharmacy accountants handle everything. Switching mid-year is simple and you never need to contact your old accountant:
Reach out to us, and we’ll discuss your needs and how we can help your healthcare practice thrive.
We’ll send over a simple letter to formalise our partnership and get everything in motion.
If you're switching, we’ll take care of contacting your previous accountants to make the transition smooth.
From there, sit back and relax. We’ll manage your accounts, taxes, and everything in between, keeping your practice running smoothly.
Our support for pharmacists and pharmacy businesses typically covers Self Assessment tax returns, annual accounts, Corporation Tax, bookkeeping and financial record keeping, payroll, management accounts, tax planning and VAT support where it applies to your business. For locum and self-employed pharmacists, we usually focus on pulling together multiple income sources, tracking allowable professional expenses and making sure the return is filed on time. For pharmacy owners, the emphasis tends to be on annual accounts, business accounting, payroll for staff and keeping stock and supplier costs recorded accurately. The exact mix depends on your circumstances, so we agree the scope with you before anything is put in place.
We work with employed community pharmacists, locum pharmacists, self-employed pharmacists, pharmacy owners, independent pharmacies, pharmacy partnerships and pharmacy limited companies, as well as pharmacy businesses with related trading or retail activity. If your income comes from pharmacy work in one form or another, or you run a pharmacy business, the accounting and tax requirements are usually specific enough to benefit from specialist support. Sole traders, partnerships and limited companies are all catered for, and the approach is adjusted to suit the structure you operate under.
Pharmacy income often arrives from more than one place — NHS payments, private prescriptions, retail sales, locum fees from different contracts, or a salary alongside self-employed work. We start by mapping out each income stream and making sure they are recorded separately and consistently, because that makes the reporting far more accurate and makes it easier to spot where the profit is really coming from. Where income needs to be declared across different returns or under different rules, we take the time to get the treatment right. Because the correct handling can depend on your individual circumstances, we will explain the position for your specific situation rather than applying a blanket rule.
You will usually need to file a Self Assessment return if you are self-employed, work as a locum, receive untaxed income, or have income from property or investments that is not taxed at source. If you are employed through PAYE and have no other income, you may not need to file at all. The position can change from year to year, particularly if you move between employed and locum work or take on a pharmacy business interest, so it is worth reviewing regularly. We can confirm whether a return is required in your case and handle the preparation and filing if it is.
Commonly claimed expenses include professional registration fees, indemnity or professional insurance, required training and continuing professional development, specialist equipment and uniforms, and business travel such as mileage between locum placements. Some costs are allowable in full, some are restricted, and some depend on whether you are employed or self-employed and whether the expense was incurred wholly and exclusively for the work. We review your expenditure and explain which items can be claimed in your circumstances, keeping appropriate records so the position is supported if HMRC asks about it.
Yes. We can look after payroll for pharmacists, dispensers, counter staff and other employees, including the routine reporting and deductions that accompany it, as well as bookkeeping that keeps prescription income, retail takings, supplier invoices, stock purchases and staff costs recorded accurately throughout the year. Keeping the records current rather than reconstructing them at year end makes the annual accounts more reliable and reduces last-minute stress. It also gives you a clearer view of how the pharmacy is trading month to month.
VAT treatment for pharmacies is not always straightforward, because some supplies are exempt, some are standard-rated and some depend on the exact nature of what is being sold or dispensed. Registration is generally required once taxable turnover passes the relevant threshold, but there are situations where voluntary registration or a particular scheme may be worth considering. The right approach depends on your individual circumstances and the mix of your income, so we review your position and explain the implications before any decision is made.
Switching is usually simpler than people expect. Once you get in touch, we have a short conversation about your current accounting arrangements, your income streams and any deadlines approaching. We then handle the handover with your existing accountant, including obtaining the information needed to take over the records, and make sure nothing is missed in the transition. From there, we agree how your accounts, tax returns, payroll or bookkeeping will be managed going forward, and you have a clear point of contact for questions throughout the year. If you are unsure whether you need to switch at all, we are happy to talk it through first.
